What we promise, and what we do not
Both lists matter, and we would rather you read the second one now than find it out later. So they are side by side.
What we promise
- The home is yours to buy. It is held for sale to the family living in it, not rented out with a maybe someday attached.
- Your terms are written down before you sign. The rent, the purchase price, the extension price, and what you pay up front.
- Every dollar of your option fees comes off the purchase price.
- Part of your rent builds a credit toward the purchase, every month, on top of your option fee.
- We pay for repairs, maintenance, property taxes and insurance while you rent. You are not taking on an owner's problems before you are the owner. Taking care of the home is still shared: the yard and snow are yours, and damage or neglect can be charged back. Here is the split.
- The home is ready when you get the keys. We inspect and prepare every home before you move in, not after.
- We keep extending while you are working at it. Current on rent, still trying to buy, no major lease violations, and we sign another 12 months.
- You choose who you work with. We build a buying plan with you, at no charge of our own. Use any lender you want, or turn our help down entirely.
- We tell you what we see. If something serious stands between you and owning this home, you hear it at the overview, before you decide anything.
What we do not promise
- We cannot promise a home will be available. We are a small company and homes do not open up on a schedule.
- We cannot promise your application will be approved.
- We cannot promise a bank will lend to you. That is the bank's decision, not ours.
- We cannot promise how long anything takes. Getting ready to buy depends on your income, your debts, your savings, and the time you put in.
- If you do not buy the home, you do not get your option fee back. It holds your right to buy, and it can only be used to buy this home.
- The rent credit is not paid back either. Like the option fee, it can only be used to buy this home. If you move out without buying, it does not come with you.
If any of that is a problem for you, say so early. We will be straight with you about whether this fits.
Questions to ask any rent to own program
Rent to own has a bad reputation in a lot of places, and often it is deserved. Ask these of anyone offering you a rent to own home, including us. If a program cannot answer them clearly, that tells you something.
| Ask | A land contract or a weak program | Strong Blocks |
|---|---|---|
| Who fixes the furnace? | You do, from day one, before you own anything. | We do, and we pay for it. |
| Who pays the taxes and insurance? | Often you, on a house that is not yours yet. | We do, while you rent. |
| What if the owner stops paying the mortgage or the water bill? | You can lose the house and everything you put in, through no fault of your own. | Those are ours and we keep them current. You do not have to take our word for it, and we will show you how to check. |
| Do you know the purchase price up front? | Sometimes vague, or decided later. | In writing before you sign, including the extension price. |
| What if you need more time? | You lose the deal and everything you paid. | A 6 month extension is built in, then 12 month extensions while you keep working at it. |
How to check up on us
That last question is the one where a bad program can hurt you the most, and where a promise on a website is worth the least. So here is how to verify it yourself, for us or for anyone else.
- The water bill is public record. In Milwaukee the account is in the owner's name, so it is in ours on every home, whoever the cost lands on. We give every resident the account number for their home so you can look it up and see it is current. If a landlord will not give you the account number, that itself tells you something.
- Court filings are public too. Wisconsin's court records are searchable free at wcca.wicourts.gov (opens in a new tab), usually called CCAP. Search the name of the company that owns the house and you will see any foreclosure action filed against it.
You can run both of those checks in about ten minutes, on us or on any landlord offering you a rent to own deal. We would rather you did.